Team Forward! Cash Management Test

Clients who receive a large volume of payments via check require significant time and resources to process these receivables. A great alternative to offer clients is a Lockbox. Payments are sent directly to the Lockbox and RBS Citizens will process the checks and notify the client once payments have been posted to their account.

A Letter of Credit is a letter from a bank guaranteeing that a buyer's payment to a seller will be received on time and for the correct amount. In the event that the buyer is unable to make payment on the purchase, the bank will be required to cover the full or remaining amount of the purchase. This does NOT rely on electronic transmissions.

MMGPS offers clients many benefits, only a few of which are listed here. As RBS Citizens primary cash management platform & product, clients who take advantage of the MMGPS services see a comprehensive picture of their business's financial information and have access to tools which effectively manage cash flow.

Working Capital is a measure of how much in liquid assets a company has available to grow, expand and invest in their business. Working Capital can be positive or negative depending on how much debt a company is carrying.

MMGPS is a web-based information reporting and transaction initiation system which provides customers with: the ability to obtain multi-bank multi-currency account information via previous- and current-day reports; receive alerts on their CM services; initiate wires, ACH, internal transfers and stop payments; six months of imaged checks, RDI and positive pay.

Many cash management products can automate the collection of receivables and issuing payables. This drives greater efficiencies as human capital is reduced or in some cases no longer needed to collect and process payments.

The correct answer is "Team Forward!" because it is the only option that matches the given information. The question asks for the name of the sales campaign associated with the exam, and "Team Forward!" is the only option that fits this description. The other options, "Team Up!", "Team Ahead!", and "Team Citizens!" do not match the given information and are therefore incorrect.

EZ Deposit allows clients to scan checks they wish to deposit and upload the file. The transactions are processed & cleared on the ACH network and/or as IRDs. This simplifies check depositing, and allows clients all the benefits listed above.

Receiving an account analysis statement is important to help the Cash Management Sales Specialist to see what services a prospect is using, which can help determine a client’s profitability. The statement also allows Cash Management to suggest new products by examining volumes and current products. While switching to RBS Citizens may result in decreased fees to the client, this is not a certainty and is not the reason it is important for the Cash Management Sales Specialist to see the statement.

To protect clients from check fraud, Positive Pay will allow them to view potentially fraudulent transaction before they impact their accounts. Check amounts that do not match a client’s written checks will be reported as exceptions, and clients will be able to decide whether these items get paid or returned.

Lockbox services are beneficial to clients who receive many check payments from buyers and express frustration in check processing time.

INTERNAL fraud involves a client’s own employees defrauding the company. Separation of duties can help to minimize the risk, as two employees would need to be colluding. The other three choices refer to ways to minimize EXTERNAL fraud.

MMGPS is RBS Citizens’ ERP system, designed to help a client with their management and reporting needs. EZ Deposit helps a client to easily manage deposits, or collections.

CEOs, CFOs and Business Owners have a lot on their minds today, from growing their business, developing new products and investments to protecting and monitoring their cash. As RMs, we can act as their trusted advisor to help them make business decisions to achieve their goals.

The account analysis statement is an important tool for the Cash Management Sales Specialist to see prior to meeting the client. While collecting financial information needed for the loan process, the RM should ask for a copy of the analysis statement to provide to the Sales Specialist.

Cash management at its core is focused on helping clients effectively manage receivable, payable and reporting needs. Through this efficient payable and receivable management, clients can improve their working capital. Through products such as positive pay, customers can decrease their fraud risk.

Enterprise resource planning (ERP) systems integrate internal and external management information across an entire organization. ERP systems automate this activity with an integrated software application. Their purpose is to facilitate the flow of information between all business functions inside the boundaries of the organization and manage the connections to outside stakeholders.

As such, companies no longer need to enter information into external stakeholder systems as well as their own data warehouses.

A client’s ECR determines the amount they pay in hard fees. Soft fees are those fees covered by balances. The combination of the two is called P*V, or Price*Volume.

A client's ECR, or Earnings Credit Rate, is a daily calculation of interest paid on idle funds that reduce bank service charges. A calculated amount is then used to pay for banking fees. The ECR helps determine what a client's hard fees will be.

Merchant Services are most commonly used by retail organizations who have more need of POS systems. Professional and Business Services firms typically accept payment via checks, wires or ACH rather than debit or credit card.

In order to use accessMOBILE, clients need to be set up on MMGPS and have a password. Currently, accessMOBILE is only available on the iPhone, with Droid & Blackberry releases coming soon. accessMOBILE can be downloaded for free from the iTunes store.

Clients who are interested in reducing check fraud exposure are worried that the checks they are writing may be altered or otherwise fraudulently deposited. Positive pay, a payables product, could meet their needs.

CFG’s Electronic Data Interchange (EDI) service enables you to electronically send and receive payments and associated information in a standardized format. Cash forecasting is more accurate by eliminating mail time uncertainty.

Zero Balance Accounts help clients separate funds coming into their business for tracking and reporting purposes. For example, a company might want to separate credit card payments from other incoming receivables. These payments would be deposited into the ZBA account, but roll up to a master account

Controlled Disbursement helps a client minimize idle balances in disbursement accounts.